Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has called on the Federal Government to ensure that the 450,000 barrels of crude oil allocated daily for domestic consumption are supplied to local refineries.
Falana said the arrangement would increase domestic petrol production, reduce dependence on imported fuel and potentially bring down the price of Premium Motor Spirit, commonly known as petrol.
Speaking on Channels Television’s Politics Today, the senior lawyer questioned why Nigeria continues to import petrol despite having operational refining capacity and a crude allocation intended for local consumption.
He urged the government to account for the 450,000 barrels per day and ensure that the crude reaches refineries operating in Nigeria, including the Dangote Petroleum Refinery.
According to Falana, supplying local refineries with the allocated crude would give the government greater control over the domestic fuel market and allow it to influence petrol prices.
His comments came amid renewed debate over the removal of the petrol subsidy. The presidential candidate of the African Democratic Congress, Atiku Abubakar, has also proposed selling crude oil to local refineries at a reduced price as part of his plan to reintroduce a fuel subsidy.
Falana expressed concern over the continued importation of petrol, claiming that imported products currently account for about 43 per cent of Nigeria’s local fuel consumption.
He argued that the country should reduce its reliance on imported petroleum products, especially with the Dangote refinery and other domestic facilities producing refined products.
The lawyer also criticised the continued use of foreign exchange to finance petrol imports, saying Nigeria should maximise its available crude resources by processing more of the oil domestically.
He further questioned the effect of naira depreciation on Nigerians, arguing that an economy heavily dependent on imports would face higher costs when the local currency loses value.
Falana also called for the revival of Nigeria’s government-owned refineries, saying increasing domestic refining capacity would strengthen the country’s energy security and reduce exposure to international fuel markets.
He linked the petrol situation to the wider economic hardship in the country, arguing that increased government revenue following the removal of the subsidy should translate into better living conditions for Nigerians.
The senior advocate urged citizens to demand greater accountability from the Federal Government, state governments and local councils over the additional revenue available to the different levels of government.
He also called for the implementation of the Supreme Court judgment directing the direct payment of statutory allocations to local governments, saying greater financial autonomy would improve accountability at the grassroots.
Falana maintained that the government should first identify and properly account for the 450,000 barrels of crude earmarked for domestic consumption and ensure that the oil is made available to capable local refiners.
He argued that using the crude for domestic refining would help Nigeria reduce petrol imports and retain more value within the local economy.
